Jewett-Cameron requests Toronto exchange delisting

Jewett-Cameron Trading Co. wants to remove its stock from the Toronto Stock Exchange.

The North Plains-based metal and wood products distributor on Friday filed a delisting request with the Toronto exchange to voluntarily remove its common shares, a process that typically takes eight-to-10 business days.

In a news release, the company said it made the request to avoid the costs associated with being traded on two exchanges. Jewett-Cameron (NASDAQ: JCTCF) also trades on the NASDAQ.

The company got a lift recently from an Oregon Supreme Court ruling related to an inventory acquisition by Greenwood Products. The ruling allowed the company to reverse litigation reserves of $1.4 million, which helped to boost second-quarter earnings from 71 cents per share to 25 cents per share a year earlier.